Builders FirstSource (NYSE:BLDR) Stock Price Up 3.2%

Builders FirstSource, Inc. (NYSE:BLDR)’s share price traded up 3.2% on Friday . The company traded as high as $174.35 and last traded at $172.87. 193,989 shares changed hands during trading, a decline of 88% from the average session volume of 1,612,076 shares. The stock had previously closed at $167.55.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BLDR. Bank of America downgraded Builders FirstSource from a “buy” rating to a “neutral” rating and lowered their price target for the company from $183.00 to $180.00 in a research report on Friday, August 2nd. Robert W. Baird raised Builders FirstSource from a “neutral” rating to an “outperform” rating and raised their target price for the company from $185.00 to $190.00 in a report on Wednesday, August 7th. Royal Bank of Canada cut their price target on Builders FirstSource from $193.00 to $178.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Oppenheimer raised their price objective on shares of Builders FirstSource from $190.00 to $205.00 and gave the stock an “outperform” rating in a research note on Tuesday. Finally, Wedbush reiterated an “outperform” rating and set a $175.00 target price on shares of Builders FirstSource in a research note on Tuesday, August 6th. Six research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.57.

Builders FirstSource Stock Up 0.2 %

The firm has a market cap of $20.49 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 10.07 and a beta of 2.04. The company has a debt-to-equity ratio of 0.88, a quick ratio of 1.14 and a current ratio of 1.83. The business’s 50-day moving average is $157.82 and its 200-day moving average is $171.68.

Builders FirstSource (NYSE:BLDR) last announced its earnings results on Tuesday, August 6th. The company reported $3.50 EPS for the quarter, topping the consensus estimate of $3.02 by $0.48. Builders FirstSource had a return on equity of 37.05% and a net margin of 8.25%. The business had revenue of $4.46 billion for the quarter, compared to the consensus estimate of $4.48 billion. During the same period in the previous year, the business earned $3.89 EPS. Builders FirstSource’s revenue was down 1.6% compared to the same quarter last year. On average, equities analysts predict that Builders FirstSource, Inc. will post 11.91 EPS for the current year.

Builders FirstSource declared that its board has initiated a share buyback plan on Tuesday, August 6th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 5.3% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, Director Craig Arthur Steinke sold 30,000 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $153.68, for a total transaction of $4,610,400.00. Following the sale, the director now directly owns 95,333 shares of the company’s stock, valued at $14,650,775.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Builders FirstSource

Several large investors have recently made changes to their positions in the company. Vanguard Personalized Indexing Management LLC raised its holdings in Builders FirstSource by 0.7% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 10,240 shares of the company’s stock worth $1,417,000 after purchasing an additional 74 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of Builders FirstSource by 42.1% during the second quarter. First Horizon Advisors Inc. now owns 253 shares of the company’s stock worth $35,000 after buying an additional 75 shares during the last quarter. Team Hewins LLC lifted its holdings in Builders FirstSource by 6.5% in the first quarter. Team Hewins LLC now owns 1,313 shares of the company’s stock valued at $274,000 after buying an additional 80 shares during the period. Csenge Advisory Group boosted its stake in Builders FirstSource by 1.9% in the second quarter. Csenge Advisory Group now owns 4,252 shares of the company’s stock valued at $589,000 after acquiring an additional 81 shares during the last quarter. Finally, Congress Wealth Management LLC DE grew its holdings in Builders FirstSource by 1.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 6,197 shares of the company’s stock worth $1,035,000 after acquiring an additional 85 shares during the period. Institutional investors and hedge funds own 95.53% of the company’s stock.

About Builders FirstSource

Builders FirstSource, Inc, together with its subsidiaries, manufactures and supplies building materials, manufactured components, and construction services to professional homebuilders, sub-contractors, remodelers, and consumers in the United States. It offers lumber and lumber sheet goods comprising dimensional lumber, plywood, and oriented strand board products that are used in on-site house framing; manufactured products, such as wood floor and roof trusses, floor trusses, wall panels, stairs, and engineered wood products; and windows, and interior and exterior door units, as well as interior trims and custom products comprising intricate mouldings, stair parts, and columns under the Synboard brand name.